32 Ogilvie Corporation issued 13,000 shares of no-par stock for $10 per share. Ogilvie was authorized to issue 36,000 shares. What effect will this event have on the elements of the company's financial statements? Multiple Choice Increase assets and increase stockholders' equity by $130,000 Increase assets and increase stockholders' equity by $130,000 Increase cash inflows from investing activities by $130,000 None of these answer choices are correct
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Balance Sheet: - Assets: The company will receive $30,000 ($10/share x 3,000 shares) in cash, which will increase the cash or cash equivalents on the balance sheet. - Shareholders' Equity: The issuance of 3,000 shares will increase the shareholders' equity section Show more…
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